TPT Retirement Solutions Announces New Board

The new governance structure marks the next step in TPT’s strategy to better serve its members and employers

TPT Retirement Solutions, one of the UK’s leading workplace pension schemes, unveils its new board. This is part of the organisation’s strategy to be a leading Defined Benefit (DB) consolidator.

Pension schemes are becoming increasingly complex and trustees are under more pressure than ever from growing regulation, low interest rates and increasing deficits. TPT recognises this and undertook a comprehensive review to see how it could better serve its members and employer clients in the future.

The result was a new two tier board comprising of a Supervisory Trustee Board, which will oversee a Management Board who are responsible for the day to day running of the organisation.

This new governance structure is designed to improve and speed up decision making, by having professional Non-Executive Directors on the Management Board with investment, funding and risk management skills.

The Supervisory Trustee board will be made up of nine directors, three Employer Nominated Directors (ENDS), three Member Nominated Directors (MNDs) and three co-opted directors, one of whom will be the independent Chair. The board members are:

Sarah Smart, Chair of the Trustee Board

David Robertson, Co-opted Director and Chair of the Management Board

Mike Ramsey, Chief Executive

Elizabeth Garner, Employer Nominated Director

Colin Small, Employer Nominated Director

Jonathan Wheeler, Employer Nominated Director

Frank Shore, Member Nominated Director

Maggie Rodger, Member Nominated Director

Richard Stroud, Member Nominated Director

There will be five members on the new Management Board, four non-executives and the Chief Executive. The board members are:

David Robertson, Chair

Mike Balfour, Chair, Investment Committee

Richard Coates, Chair, Audit, Risk and Compliance Committee

Wendy Mayall, Chair, Funding Committee

Mike Ramsey, Chief Executive

Sarah Smart, Chair of the Trustee Board at TPT Retirement Solutions, said: “I am delighted that we have been able to attract such high calibre people to our Management Board. This new governance structure will enable us to better serve our employers and members as the organisation looks to its next phase of development.”

Wendy Mayall, Chair of the Funding Committee at TPT Retirement Solutions, said: “I look forward to working with my colleagues at TPT to take the organisation forward in what is an exciting time for the UK pensions industry and the organisation."